SBI Reward Scam: Govt Urges State Bank of India Customers To Be Vigilant - Check Details

The incorporation of technology in sectors such as banking has made life easier. The digitisation of banking allows users to conduct financial transactions and open new accounts all from the convenience of their homes. However, scammers have also caught up with the rapid advancements in technology.

A post on social media platform X by the Press Information Bureau (PIB) has uncovered one such scam. As a part of the scam, customers are urged to download an app called ‘SBI Rewards’. Once the app is downloaded the scammers can remotely access your device and use it for illegal purposes.

The PIB warned people to be wary of the scam and advised them against responding to the viral message which asks people to download the app.

“Beware!! Did you also receive a message asking you to download & install an APK file to redeem SBI rewards. NEVER sends links or APK files over SMS/WhatsApp. Never download unknown files or click on such links,” PIB said.

PIB also shared a screenshot of the message sent by scamsters as a part of the SBI Rewards Scam. The message urges SBI customers to download the SBI Rewards app to use their SBI NetBanking reward points before they expire.

“Dear Valued Customers, Your SBI NetBanking reward points (Rs 9980) will expire today! Now Redeem through SBI Reward App Install & claim your reward by cash deposit in your account,” the PIB said.

If the users click on the download button an app is downloaded onto their device in the ‘APK’ format. An APK is a file format in which applications are saved in the Android operating system.

It is advised that users should only download APK files from reliable sources such as the Google Playstore. Users can also download applications from third-party app stores however they pose significant security risks.

The SBI Rewards scam is an instance of what is commonly known as an ‘APK Scam’. Scamsters obtain access to victim’s phones after they download the APK file and allow it permission to access various facets of their device such as the camera, phone, memory or other such functions. Scamsters typically deploy social engineering tactics to get victims to download the APK file.